“Uncreative” Destruction: The Troika’s Hostile Takeover of Europe

All the more reason for the UK to get the hell out of this EU Cluster F .

Quite a shock to see how Europe is being destroyed and the cost to borne by future generations.

"With a report just out by Save the Children that 28 percent of European children (in particular those living in countries subject to the Troika’s bail-out regimes) are now at risk of poverty and social exclusion, time is of the utmost essence. If the people of Europe want to safeguard European democracy from the Troika’s whirlwind of “uncreative” destruction, they will have to act soon."

Testosterone Pit
By Don Quijones
15 April 2014

After four long years of “service”, the Troika’s frontline role in sustaining and exacerbating crisis conditions in Southern Europe is finally beginning to attract some of the attention it deserves. In my home city of Barcelona, a coalition of left-wing groups recently held an event to raise awareness about the Troika’s “neo-liberalisation” of Southern Europe. Even Europe’s shoe-shine institution, the European Parliament, has promised to launch an enquiry into the Troika’s operations after the European elections in May.

Since its inception at the beginning of Europe’s sovereign debt crisis, the unholy alliance between the IMF, the European Central Bank and the European Commission has visited untold damage on the economies and societies of a long and fast-growing list of countries.

A Three-Pronged Attack

In many ways, the conditions set by the Troika in the EU bail-out economies resemble those that a conquering army might impose on a country it occupies. The government of Greece, for example, has been reduced to mere vassal status as the country’s welfare state and public services are stripped to the bone by corporate vultures.

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